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Posts tagged as “Statutes of Limitation”

The Folly of the FTC’s Take on Statutes of Limitation

The Federal Trade Commission had an epiphany last week – debt collectors must disclose in their communications that a debt subject to a statute of limitations defense creates a “legal right” which prevents a creditor from filing a lawsuit. Read it here: FTC Press Release, 1/30/12. It only took the federal agency 33 years of enforcing the Fair Debt Collection Practices Act (15 U.S.C. § 1692) (the “FDCPA”) to come to this conclusion. Quite a milestone and quite a reflection of our times. Although I haven’t been working on FDCPA issues quite as long as my colleagues in Washington, I’ve…